by Terry Phillips | Feb 14, 2023 | Uncategorized, accountancy, accountancy software, bookkeeping, business management, council tax
To encourage pension savings, tax relief is available on contributions made to registered pension schemes. However, there are limits on the contributions that can qualify for relief, and punishing tax charges can apply if these limits are exceeded. Limit 1 – 100% of...
by Terry Phillips | Feb 8, 2023 | accountancy, accountancy software, bookkeeping, business management, hmrc, tax
Accountants Chester – Tax Tip No. 2 Directors’ loans can be tricky from a tax perspective. Specific tax charges apply where loans to director shareholders of close companies (broadly those under the control of five or fewer shareholders) are not repaid by the...
by Terry Phillips | Dec 19, 2022 | accountancy, business management, expense claims, hmrc, influencer tax, making tax digital, social media, tax, tiktok
Since 2020, millions of us have flocked to the online streets of TikTok and have made a penny or two. But now you have to tell HMRC exactly what you’ve made. TikTok is the world’s largest short-form video-sharing platform with a unique algorithm that helps people...
by Mark Phillips | Dec 12, 2022 | accountancy, accountancy software, business management, hmrc, making tax digital, scamming, tax, tax rebate
Accountants Chester – Tax Tip No. 1 If you’re one of the 12.2 million individuals who are due to file a self-assessment tax return this year, you need to be aware of potential scams out there. Unfortunately, numerous fraudsters out there will contact you and...
by Terry Phillips | Dec 5, 2022 | accountancy, business management
Management accounts are separate from the statutory accounts that you create for HMRC. Instead, they help you to make better business decisions. When you request management accounts to be made by your accountant, you’re opening your world to a number of data points...
by Terry Phillips | Nov 28, 2022 | accountancy, accountancy software, bookkeeping, business management, expense claims, expenses, hmrc, making tax digital, tax
If you’re earning money outside of payroll and you’ve not been taxed on it yet, you’ll need to know everything about doing a self-assessment tax return. A self-assessment tax return is something you’ll need to do every year if you’re self-employed or earning income...
